LEDCO to fund new business plan projects
POSTED: Monday, April 22, 2013 - 7:00pm
UPDATED: Monday, April 22, 2013 - 7:14pm
Longview, TX (Longview News-Journal) — The Longview Economic Developmment Corp. board of directors has agreed to support two companies’ investment plans in the city.
The board voted unanimously Wednesday to grant $200,000 to a $1.3 million expansion project for Colony Cabinets.
The expansion will create 15 new full-time jobs at the company’s facility in the 900 block of Estes Parkway.
“Colony Cabinets was established in 1982 and has grown to become one of the top casework and fixture companies in the United States,” said LEDCO Executive Director Susan Mazarakes-Gill in a prepared statement.
Mazarakes-Gill said $50,000 of the grant would be paid upon receipt of the certificate of occupancy and proof of investment and another $50,000 would be paid per year for three years based on full-time employment average of 31 the first year, 36 the second year and 41 the third year.
Board members also voted unanimously to grant $45,000 to a $160,000 investment from Genesis Recycling Technology.
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